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Trump has set a Christmas deadline for signing the bill into law, giving lawmakers named to a special conference committee two weeks to iron out major differences between the House and Senate versions of the legislation. The conference committee has scheduled its first formal meeting for Wednesday.
Both measures would cut taxes by about $1.5 trillion over the next decade while adding billions to the $20-trillion deficit, combining steep tax cuts for corporations with more modest reductions for most individuals. Together, the changes would amount to the biggest overhaul of the U.S. tax system in 30 years, touching every corner of society.
Significant differences between the bills must be worked out before Trump can fulfill a campaign promise and score his first major legislative achievement. Republican lawmakers, including Graham, have said publicly that failure on taxes — after the embarrassing collapse of several attempts to repeal President Obama’s healthcare law — would be politically devastating with control of the House and Senate at stake in midterm elections next year.
Trump spent the weekend at his Palm Beach estate, arriving from Pensacola, where he held a campaign rally Friday night. Trump flew to Jackson, Miss., on Saturday to speak at the opening of the Mississippi Civil Rights Museum and planned to return to the White House on Sunday night.
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Source : http://www.latimes.com/politics/la-pol-updates-everything-president-1512944399-htmlstory.html